South & Central America Queue Management System Market Forecast to 2030
South & Central America Queue Management System Market Forecast to 2030 – Regional Analysis – By Type (Virtual Queuing and Linear Queuing), Component (Solution and Services), and Application (BFSI, Hospitals, Retail Outlets, Utility Service Providers and Airports, Restaurants, Government Offices, and Others)
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Description
Escalating Demand for Virtual Queue System Drives South & Central America Queue Management System Market
According to the United Nations Department of Economic and Social Affairs, the total population is expected to reach 8.6 billion and 9.8 billion by 2030 and 2050, respectively. The data also represented that ~83 million people are being added to the world’s population annually, and the upward trend in population size is anticipated to continue to rise in the coming years. With the rise in population, individuals seeking services from various businesses such as healthcare, banking & financial, government offices, and retail outlets are also likely to increase. Pertaining to this, numerous service providers have adopted various linear queuing management solutions to manage the queue efficiently. However, healthcare facilities, airports, and government offices still witness long queues of customers on a regular basis. In an attempt to reduce queues at various businesses, several queue management system market players are innovating and designing virtual queue systems, which enable customers to gather information about their queue status. The demand for the virtual queue system is gradually increasing among the above-mentioned sectors as this system allows customers to wait remotely. This is achieved through the use of smart technologies. Customers scan QR codes placed outside the premise and are able to receive an electronic token (e-token) number or queuing number, which can be used to gather information on queuing status. Thus, attributing to these benefits, the demand for virtual queuing systems is on the rise, which is anticipated to fuel the South & Central America queue management system market in the coming years.
South & Central America Queue Management System Market Overview
The South America queue management system market is segmented into Brazil, Argentina, and the Rest of SAM. The region witnessed rapid urbanization, which has resulted in the development of new commercial spaces, including shopping malls, recreation centers, educational institutes, office buildings, and hospitals, among others. The rise in the construction of such buildings is expected to create a demand for efficient queue management systems. However, several countries in the region lack the infrastructure and resources required for utilizing technologically advanced automation solutions in various industries. Favorable measures by governments, amid many obstacles, are facilitating developments in various industries, especially healthcare, retail, and BFSI, at a sustainable pace. In October 2019, Qmatic partnered with Agia Technology to strengthen its presence in South America. The partnership agreement allows Qmatic to improve Agia Technology’s customer experience offerings by delivering cloud-based solutions, valuable data insight solutions, streamlined customer journeys, and smart queue management systems. Thus, rising technological developments in these industries are increasing the adoption of queue management systems across the region.
Further, as per a report published by CEPAL, South America requires a total investment of US$ 53.2 billion during 2016-2040 to fill the capacity gap in airport infrastructure. To meet this challenge, governments, as well as air infrastructure concessionaires, are focusing on making significant investments in airport development projects, including the installation of queue management systems. Thus, the rise in investments is expected to boost the demand for queue management systems across the region during the forecast period.
South & Central America Queue Management System Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Queue Management System Market Segmentation
The South & Central America queue management system market is segmented based on type, component, application, and country.
Based on type, the South & Central America queue management system market is bifurcated into virtual queuing and linear queuing. The virtual queuing segment held a larger share in 2022.
By component, the South & Central America queue management system market is bifurcated into solution and services. The solution segment held a larger share in 2022.
By application, the South & Central America queue management system market is segmented into BFSI, hospitals, retail outlets, utility service providers and airports, restaurants, government offices, and others. The BFSI segment held the largest share in 2022.
Based on country, the South & Central America queue management system market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America queue management system market in 2022.
Q-MATIC Group AB, Qminder Ltd, Q-nomy Inc, Wavetec, and Advantech Co Ltd are some of the leading companies operating in the South & Central America queue management system market.
Summary Info
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According to the Research Team’ research, the South & Central America queue management system market was valued at US$ 25.39 million in 2022 and is expected to reach US$ 33.07 million by 2030, registering a CAGR of 3.4% from 2022 to 2030. Implementing artificial intelligence in queue management system and escalating demand for virtual queue system are among the critical factors attributed to the South & Central America queue management system market expansion.
The rise in customer expectations associated with their time influences service providers to adopt queue management systems. The most common customer complaints include long queues at banks, retail stores, airports, hospitals, and other public places, especially during peak hours or holidays. In order to access services in public facilities, consumers are often impatient and stressed and progress through queues. Moreover, according to the World Health Organization, the proportion of the geriatric population is expected to increase from 12% in 2015 to 22% by 2050. Older people suffering from cardiovascular disease, osteoporosis, and dementia require frequent visits to hospitals. Hence, long queues at medical facilities can be a physical burden to them, which generates the demand for AI-based queue management software.
The use of an AI-based queue management system supports healthcare and other facilities to solve their customer’s problems. An AI-based queue management system leverages artificial intelligence to minimize wait times, manage queues, and improve patient experience. It uses real-time data to predict customer traffic and allocate resources accordingly by providing customers with a seamless and hassle-free experience. AI-based queue management systems help reduce customer frustration and improve overall customer’s satisfaction. It is capable of monitoring customer traffic and queue length in real time, providing business owners with accurate data to make informed decisions. Thus, the implementation of AI-based queue management systems is likely to generate several growth opportunities for the market players during the forecast period.
On the contrary, tremendous growth in e-commerce worldwide hampers the growth of South & Central America queue management system market.
Based on type, the South & Central America queue management system market is bifurcated into virtual queuing and linear queuing. The virtual queuing segment held 61.7% share of the South & Central America queue management system market in 2022, amassing US$ 15.66 million. It is projected to garner US$ 21.18 million by 2030 to expand at 3.8% CAGR during 2022-2030.
By component, the South & Central America queue management system market is bifurcated into solution and services. The solution segment held 77.6% share of the South & Central America queue management system market in 2022, amassing US$ 19.70 million. It is projected to garner US$ 26.38 million by 2030 to expand at 3.7% CAGR during 2022-2030.
By application, the South & Central America queue management system market is segmented into BFSI, hospitals, retail outlets, utility service providers and airports, restaurants, government offices, and others. The BFSI segment held 29.0% share of the South & Central America queue management system market in 2022, amassing US 7.36 million. It is projected to garner US$ 8.23 million by 2030 to expand at 1.4% CAGR during 2022-2030.
Based on country, the South & Central America queue management system market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil held 65.9% share of South & Central America queue management system market in 2022, amassing US$ 16.72 million. It is projected to garner US$ 22.47 million by 2030 to expand at 3.8% CAGR during 2022-2030.
Key players operating in the South & Central America queue management system market are Q-MATIC Group AB, Qminder Ltd, Q-nomy Inc, Wavetec, and Advantech Co Ltd, among others.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in South & Central America queue management system market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the queue management system market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America Queue Management System Market Landscape
4.1 Overview
4.2 South & Central America PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in Value Chain:
5. South & Central America Queue Management System Market – Key Industry Dynamics
5.1 Drivers
5.1.1 Rising Focus on Service Quality Enhancement in Various Sectors
5.1.2 Increasing Demand in Healthcare Sector
5.1.3 Increasing Adoption to Manage Customer Traffic and Retain Customers
5.2 Market Restraints
5.2.1 Tremendous Growth in E-commerce Worldwide
5.2.2 Evolution of Mobile Apps by BFSI Sector
5.3 Market Opportunities
5.3.1 Implementing Artificial Intelligence in Queue Management System
5.4 Future Trends
5.4.1 Escalating Demand for Virtual Queue System
5.5 Impact of Drivers and Restraints:
6. Queue Management System Market – South & Central America Market Analysis
6.1 South & Central America Queue Management System Market Revenue (US$ Million), 2022 – 2030
6.2 South & Central America Queue Management System Market Forecast and Analysis
7. South & Central America Queue Management System Market Analysis – Type
7.1 Virtual Queuing
7.1.1 Overview
7.1.2 Virtual Queuing Market Revenue and Forecasts to 2030 (US$ Million)
7.2 Linear Queuing
7.2.1 Overview
7.2.2 Linear Queuing Market Revenue and Forecasts to 2030 (US$ Million)
8. South & Central America Queue Management System Market Analysis – Component
8.1 Solution
8.1.1 Overview
8.1.2 Solution Market Revenue and Forecasts to 2030 (US$ Million)
8.2 Services
8.2.1 Overview
8.2.2 Services Market Revenue and Forecasts to 2030 (US$ Million)
9. South & Central America Queue Management System Market Analysis – Application
9.1 BFSI
9.1.1 Overview
9.1.2 BFSI Market Revenue and Forecasts to 2030 (US$ Million)
9.2 Hospitals
9.2.1 Overview
9.2.2 Hospitals Market Revenue and Forecasts to 2030 (US$ Million)
9.3 Retail Outlets
9.3.1 Overview
9.3.2 Retail Outlets Market Revenue and Forecasts to 2030 (US$ Million)
9.4 Utility Service Providers and Airports
9.4.1 Overview
9.4.2 Utility Service Providers and Airports Market Revenue and Forecasts to 2030 (US$ Million)
9.5 Restaurants
9.5.1 Overview
9.5.2 Restaurants Market Revenue and Forecasts to 2030 (US$ Million)
9.6 Government Offices
9.6.1 Overview
9.6.2 Government Offices Market Revenue and Forecasts to 2030 (US$ Million)
9.7 Others
9.7.1 Overview
9.7.2 Others Market Revenue and Forecasts to 2030 (US$ Million)
10. South & Central America Queue Management System Market – Country Analysis
10.1 Overview
10.1.1 South & Central America Queue Management System Market Revenue and Forecasts and Analysis – By Countries
10.1.1.1 Brazil: South & Central America Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.1.1 Brazil: South & Central America Queue Management System Market Breakdown by Type
10.1.1.1.2 Brazil: South & Central America Queue Management System Market Breakdown by Component
10.1.1.1.3 Brazil: South & Central America Queue Management System Market Breakdown by Application
10.1.1.2 Argentina: South & Central America Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.2.1 Argentina: South & Central America Queue Management System Market Breakdown by Type
10.1.1.2.2 Argentina: South & Central America Queue Management System Market Breakdown by Component
10.1.1.2.3 Argentina: South & Central America Queue Management System Market Breakdown by Application
10.1.1.3 Rest of South & Central America: South & Central America Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.3.1 Rest of South & Central America: South & Central America Queue Management System Market Breakdown by Type
10.1.1.3.2 Rest of South & Central America: South & Central America Queue Management System Market Breakdown by Component
10.1.1.3.3 Rest of South & Central America: South & Central America Queue Management System Market Breakdown by Application
11. Competitive Landscape
11.1 Heat Map Analysis By Key Players
11.2 Company Positioning & Concentration
12. Queue Management System Market Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Product Development
13. Company Profiles
13.1 Q-MATIC Group AB
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Qminder Ltd
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Q-nomy Inc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Wavetec
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Advantech Co Ltd
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
14. Appendix
14.1 Word Index
LIST OF TABLES
Table 1. South & Central America Queue Management System Market Segmentation
Table 2. South & Central America Queue Management System Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. South & Central America Queue Management System Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 4. South & Central America Queue Management System Market Revenue and Forecasts to 2030 (US$ Million) – Component
Table 5. South & Central America Queue Management System Market Revenue and Forecasts to 2030 (US$ Million) – Application
Table 6. South & Central America Queue Management System Market, by Country – Revenue and Forecast to 2030 (USD Million)
Table 7. Brazil: South & Central America Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 8. Brazil: South & Central America Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
Table 9. Brazil: South & Central America Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 10. Argentina: South & Central America Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 11. Argentina: South & Central America Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
Table 12. Argentina: South & Central America Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 13. Rest of South & Central America: South & Central America Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 14. Rest of South & Central America: South & Central America Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
Table 15. Rest of South & Central America: South & Central America Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn) – By Application
Table 16. Company Positioning & Concentration
Table 17. List of Abbreviation
LIST OF FIGURES
Figure 1. South & Central America Queue Management System Market Segmentation, By Country
Figure 2. South & Central America – PEST Analysis
Figure 3. Ecosystem: South & Central America Queue Management System Market
Figure 4. South & Central America Queue Management System Market – Key Industry Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. South & Central America Queue Management System Market Revenue (US$ Million), 2022 & 2030
Figure 7. South & Central America Queue Management System Market Share (%) – Type, 2022 and 2030
Figure 8. Virtual Queuing Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Linear Queuing Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. South & Central America Queue Management System Market Share (%) – Component, 2022 and 2030
Figure 11. Solution Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Services Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. South & Central America Queue Management System Market Share (%) – Application, 2022 and 2030
Figure 14. BFSI Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. Hospitals Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. Retail Outlets Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. Utility Service Providers and Airports Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. Restaurants Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. Government Offices Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 21. South & Central America Queue Management System Market Breakdown by Key Countries – Revenue (2022) ( (US$ Million)
Figure 22. South & Central America Queue Management System Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 23. Brazil: South & Central America Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 24. Argentina: South & Central America Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 25. Rest of South & Central America: South & Central America Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 26. Heat Map Analysis By Key Players
The List of Companies – South & Central America Queue Management System Market
1. Q-MATIC Group AB
2. Qminder Ltd
3. Q-nomy Inc
4. Wavetec
5. Advantech Co Ltd
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